Foreclosure Notice
Official courthouse record · Indexed in NoticeRegistry archive · AI-enriched for research
Crosby Lending 2 LLC will sell at public auction the pledged ownership interest in 40 Sunnyside Terr LLC after defaults under a Pledge and Security Agreement dated August 7, 2025. The sale enforces the lender's UCC-based security interest in the pledged shares.
Key Takeaways
- Secured party will hold a public auction of pledged LLC ownership
- Sale follows Event(s) of Default under August 7, 2025 Pledge Agreement
- Assets: Pledger's interest in 40 Sunnyside Terr LLC and related rights
- Sale conducted under UCC Article 8/9 and UCC-1 filings
- Published
- Category
- Foreclosure
If you don't respond
If interested parties take no action, the secured party will proceed with the public auction to sell the pledged LLC interest; there is no stated redemption period or deadline in the notice text provided.
What to do next
- 1
Contact the Secured Party
Reach out to Crosby Lending 2 LLC for auction date, location, and bidding requirements (contact info not provided in notice).
- 2
Review underlying documents
Obtain and review the Pledge and Security Agreement (dated Aug 7, 2025) and UCC-1 filings to confirm rights and obligations before acting.
- 3
Prepare to bid or object
If you intend to buy or challenge the sale, gather funds and legal counsel promptly; the notice gives no specific auction deadline.
Frequently asked questions
- What is being sold in this notice?
- The pledged ownership interest (share certificate) in 40 Sunnyside Terr LLC and related rights are being offered at public auction.
- Who is conducting the sale?
- Crosby Lending 2 LLC, the secured party that holds the pledged share certificate and UCC-1 filings.
- Why is the sale happening?
- Because the pledgor defaulted under the Pledge and Security Agreement dated August 7, 2025, enabling the secured party to enforce its security interest.
- Do I have to pay to bid on the auction?
- The notice text provided does not include bidding terms or payment instructions; contact the secured party for auction details.
The suggestions and answers above are AI-generated for general information only. They can be wrong, and we don't take responsibility for their accuracy. Talk to a qualified professional before acting on them.
Legal terms in this notice
- Pledge and Security Agreement
- A contract where a borrower gives a lender a security interest in assets to secure a debt.
- UCC-1 Filing
- A public record that notifies others a lender has a security interest in specified collateral.
- Article 8 (UCC)
- UCC rules governing investment securities like share certificates and their transfer.
- Article 9 (UCC)
- UCC rules that govern secured transactions and enforcement of security interests in personal property.
Full Notice Text
NOTICE OF SALE PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New Jersey, by virtue of certain Event(s) of Default under that certain Pledge and Security Agreement dated as of August 7, 2025 (the “Pledge Agreement”), executed and delivered by Wilton E. Holder (the “Pledgor”), and in accordance with it rights as holder of the security, Crosby Lending 2 LLC (the “Secured Party”), by virtue of possession of that certain Share Certificate held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the “Code”) and by virtue of those certain UCC-1 Filing Statement made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction, (i) all of Pledgor's right, title, and interest in and to the following: 40 Sunnyside Terr LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively,